CARS24 Appoints Divanshu Saxena As CBO Of Financial Services Arm
- By MT Bureau
- December 22, 2025
CARS24 has announced the promotion of Divanshu Saxena to Chief Business Officer (CBO) of its NBFC arm, CARS24 Financial Services.
In his new role, Saxena will oversee the strategy, growth and execution of the financial services division. His responsibilities include scaling lending operations, managing risk and maintaining profitability as the company develops its financial services platform.
Saxena previously managed the consumer financing business for LOANS24. During his tenure, the division recorded growth in finance penetration and contributions from non-retail lending. The company noted that his work focused on unit economics and portfolio quality.
Ruchit Agarwal, Co-Founder & Group CFO, CARS24, said, “Divanshu has played a pivotal role in building CARS24 Financial Services into a strong and institutionally sound business. His disciplined approach to growth, deep understanding of lending economics, and consistent execution have laid a solid foundation for scale. We are proud to elevate leaders from within, and as CBO, Divanshu will be central to shaping the next phase of growth for LOANS24.”
Before joining CARS24, Saxena served as a Project Leader at Boston Consulting Group (BCG) within the Financial Services and Industrial Goods practice. He is an alumnus of IIM Calcutta, where he graduated with a silver medal, and Shri Ram College of Commerce (SRCC), University of Delhi.
Divanshu Saxena said, “Building LOANS24 has been about creating a lending business that balances speed with discipline and growth with resilience. As CBO, my focus will be on scaling responsibly, strengthening our fundamentals, and continuing to build a financial services platform that earns long-term trust from customers and partners.”
MG SELECT And Gaurav Gupta Unveil Sculptural Interpretation Of MG Cyberster
- By MT Bureau
- January 19, 2026
MG SELECT and designer Gaurav Gupta have collaborated to produce an artistic version of the MG Cyberster. The project was revealed on 17 January 2026 at the opening of the designer's menswear flagship store in New Delhi. The partnership integrates automotive engineering with textiles and sculpture.
The MG Cyberster is a convertible sportscar with a claimed acceleration of zero to 100 kmph in 3.2 seconds. The creative process for this interpretation lasted six months, focusing on translating speed into a visual language. The vehicle's exterior features brocade patchwork and zari embroidery, applying traditional Indian craft techniques to an industrial surface.
The car incorporates organic forms and tonal gradients that follow the vehicle's contours. A custom hood features the Serpent Infinity motif, a symbol used in the designer's previous collections to represent energy and transformation. This integration of material and form treats the vehicle as a moving artwork rather than a machine.
The project serves as a bridge between the automotive sector and the lifestyle market. It aligns with the launch of the MG SELECT brand, which focuses on the intersection of performance design, fashion, and culture.
Gaurav Gupta, said: “I approached the car as I do couture, shaping it with movement and energy. The Serpent Infinity extends my creative narrative into a new medium. Elements of traditional Indian embroidery and embellishment are reinterpreted for the automotive form, merging heritage craftsmanship with modern technology. Every surface and curve has a purpose.”
Milind Shah, Interim Head – MG SELECT, JSW MG Motor India, added, “We see MG SELECT as a bridge between automotive engineering and contemporary lifestyle, where a car becomes part of a wider ecosystem of fashion, art and culture. Our focus is on creating moments where performance-led design naturally intersects with the worlds our customers already engage with. The Cyberster represents a modern interpretation of the iconic roadster, and collaboration with Gaurav allows us to express that philosophy beyond the car itself, through form, materiality and emotion.”
Toyota Kirloskar Motor Completes 36th iCARE Project At Bengaluru School
- By MT Bureau
- January 19, 2026
Toyota Kirloskar Motor (TKM) has concluded its 36th iCARE initiative, an employee volunteerism programme, at the Government High School in Kengeri Upanagara, Bengaluru. The project involved over 590 volunteers, including employees and their families, who worked to renovate the school library and create educational materials.
The initiative focused on transforming the library into a functional reading space. Volunteers painted the facility, created wall murals and assembled new furniture, including racks, tables and chairs. They also added new books and established a cataloguing system. To support curriculum learning, the team produced 300 Science and Social Science educational cards designed to assist students with independent study and memory retention.
This project aligns with the National Education Policy (NEP) 2020, which identifies school libraries as resources for literacy and multilingual learning. TKM’s corporate social responsibility strategy focuses on six pillars: Education, Health & Hygiene, Environment, Skill Development, Road Safety and Disaster Management.
Since its inception in 2017, the iCARE programme has reached more than 68,800 students and community members near TKM’s operations. The programme utilises the company’s principles of kaizen (continuous improvement) to address local infrastructure needs.
Sudeep Dalvi, Chief Communication Officer and Project Senior Vice-President, Toyota Kirloskar Motor, said, "At Toyota, we believe education thrives when curiosity is nurtured and learning spaces inspire young minds. Through the 36th iCARE initiative, Toyota is promoting a culture of focus on education and reading with enthusiasm among students to instill them with confidence towards lifelong learning.”
The initiative was timed to coincide with International Education Month, focusing on the role of physical learning environments in foundational literacy.
Jeep India Introduces Confidence 7 Ownership Programme For Compass And Meridian
- By MT Bureau
- January 16, 2026
Jeep India has launched Jeep Confidence 7, a long-term ownership and care package for its Compass and Meridian models with prices starting at INR 41,926 and INR 47,024, respectively.
The programme provides coverage for up to seven years, incorporating warranty, maintenance and roadside assistance to manage ownership costs and vehicle value.
The scheme includes an Assured Buyback (ABB) option, offered through authorised dealers, which guarantees a resale value of up to 60 percent of the ex-showroom price, depending on the vehicle's age and mileage. To manage service expenses, the programme offers an Annual Maintenance Contract (AMC) with costs starting from approximately INR 38 per day. According to the company, this can result in savings of up to 33 percent on scheduled service parts and labour.
The package features several service-oriented benefits, including Priority Ownership and an Express Service designed to complete specific tasks within 90 minutes. A Courtesy Edge provision ensures that if general repairs or services exceed two days, customers are provided with a loaner vehicle or taxi support to maintain mobility.
Additional components of the programme include Roadside Assistance (RSA) for the full seven-year duration and a INR 2,000 voucher for Jeep lifestyle merchandise. The extended warranty is transferable to subsequent owners, which is intended to support the vehicle's resale market value.
Kumar Priyesh, Business Head and Director – Automotive Brands, Stellantis India, said, “Jeep Confidence 7 reflects our unwavering promise to our customers—an elevated, dependable ownership experience that stands true to the Jeep brand’s heritage of trust. Customers today seek transparency, long-term value, and effortless service engagement. With Jeep Confidence 7, we are amplifying assurance, convenience, and peace of mind, ensuring that every Jeep customer feels supported throughout their entire journey.”
Maruti Suzuki India Begins Exports Of Victoris SUV
- By MT Bureau
- January 16, 2026
Maruti Suzuki India, the country’s largest passenger vehicle manufacturer, has started exports of its premium made-in-India Victoris SUV.
Launched in September 2025, the Victoris SUV is available in multiple powertrain options, including petrol with strong hybrid, Allgrip Select (4x4) and factory-fitted S-CNG with an underbody tank design. The SUV can be had with a 1.5-litre hybrid powertrain with EV mode and e-CVT transmission, a multi-terrain 4x4 system with four drive modes and a CNG variant with dual ECUs.
To begin with, the company has earmarked over 450 vehicles to ship from Mundra and Pipavav ports for global markets.
Hisashi Takeuchi, Managing Director & CEO, Maruti Suzuki India, said, “Maruti Suzuki’s export journey is guided by the vision of Make in India, Make for the World. In calendar year 2025, with exports of over 3.9 lakh vehicles, we emerged as India’s number one passenger vehicle exporter for the fifth year in a row. The year also marked our re-entry into Europe with the start of exports of our first battery electric vehicle, e Vitara.”
He added, “If we look at growth of India’s passenger vehicle exports in the past five years from CY2020 to CY2025, while the rest of industry grew by 1.43 times, Maruti Suzuki exports grew by 4.67 times. The addition of Victoris will further support our export ambitions, and we are hopeful it will be well received in international markets.”
Comments (0)
ADD COMMENT